Bank’s leaders getting new titles
Jefferson Bank has announced some changes in the leadership of the 77-year San Antonio institution.
Steve Lewis, who has served as Jefferson’s nonexecutive chairman for 17 years, has relinquished the post but will remain on the the board of directors as chairman emeritus.
He is succeeded by Paul Mcsween III, who has served as the bank’s president for 13 years. He becomes the fourth chairman in the bank’s history. CEO Danny Butler, who has been in that position for 13 years, will add the title of president.
In a statement Thursday, Jefferson Bank said the changes are part of a “planned succession” put in place five years ago by its board.
“While some of the titles are changing, the leadership and core values of Jefferson Bank will remain consistent,” Lewis said in the statement.
The family-owned bank ended last year with $2.85 billion in assets, up $95 million from $2.75 billion at the end of 2021. In addition, its trust division had $1.3 billion in assets under management and its wealth management subsidiary, 1900 Wealth, had $1.2 billion under management.
The bank had about $1.63 billion in loans and $2.65 billion in deposits at the end of last year.
It generated almost $32.1 million in earnings on about $110.7 million in revenue last year. By comparison, it earned about $24.6 million on $105.2 million in revenue in 2021.
Butler said it’s his goal to “build on the achievements of the past 77 years and guide the continued growth and expansion of Jefferson Bank throughout Texas.”
Jefferson started as a community bank and now has 14 locations in San Antonio, Boerne and New Braunfels. It’s planning to open an Austin branch next month.
The bank is constructing a 13-story building at 1900 Broadway to house its headquarters and other tenants. More than 250 employees will work in the building. They will start moving in next week.